David Schwartz Reflects on What Happened with the XRP Supply
David Schwartz, Chief Technology Officer at Ripple and one of the architects of the XRP Ledger, said: share Fresh thoughts on the supply of XRP. The reflection on blockchain numbers was prompted by cryptocurrency inflation and the recent discussion on the topic of tokens, FLRs and airdrops on the Flair network.
What is the supply of Ripple and XRP?
Discussing the topic, Schwartz expressed regret that Ripple did not distribute more tokens when the price of XRP was low. In his view, the massive influx of tokens into the market XRP price It’s already at $0.4, which makes things even more difficult.
But like I said before, I wish Ripple would have given us more XRP sooner rather than later when it was still worthless. As the value increases, it becomes much more difficult to do everything.
— David “JoelKatz” Schwartz (@JoelKatz) January 21, 2023
A particular problem is that for US recipients, this is taxed on their regular income and they are forced to sell about 50% of their tokens when they receive them. This is one of the reasons he should release all tokens to the market when prices are at their lowest, Schwartz summarizes.
Previously, Ripple’s former director of developer relations, Matt Hamilton, explained: ripple 80% of XRP’s $100 billion offering was deposited into that account. Quoting Hamilton, as reported by U.Today, XRPL We took that volume from the Open Genesis wallet and gave it to Ripple to build a commercial project based on the ecosystem.
According to the XRP Ledger Services portal, Ripple currently has 43.4 billion XRP in its accounts.